1982vett
Well-known member
Lammie":29diy5m3 said:
Thanks Lammie, I try.
Market Crash? 1987 or 1929? Bank Run?
- Thread starter HerefordSire
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Thanks Lammie, I try.
DOC HARRIS
Well-known member
I will be the first to admit that I spent my years getting educated concentrating on things other than Finances and the Stock Exchange - namely Agriculture and Chiropractic - however, along the way the way I did pick up a few gems of wisdom.
This current financial faux pax is about as serious a jolt as has happened to most of you in your lives, and I understand your consternation. Depending on your Financial stability and the particular "nut" that you have to crack in order to keep your head above water, one can attempt to give advice and soothing words to assuage your fears, dismay, and apprehension - but - words are easy to say when we are not walking in YOUR shoes.
I have to agree, at least to a great extent, with Herefordsire (though not completely :???: ), and bandit80 with their interpretation of the "alarm sounds" which went off this week! BUT - bandit80 has made what I think is as good advice as anyone on this Forum and this subject.
Keep calm, let the wheels grind inexorably along as they will, and by so doing, prevent a run on every bank in the country - which would throw a monkey wrench into the entire money system, and then we would really be in big doo-doo!
bandit80 is correct - the FDIC has never failed to do the job it is designed to do, which is to prevent the FEAR and LOSS of bank accounts in such situations such at this. That is exactly what it was designed to do - PROTECT YOUR ASSETS - to a specified amount. And you may have more than one account in the same bank up to $100,000 under your spouse' name and/or your kids names.
Back off, calm down, think quietly and don't make your personal situation worse than it is. We may not agree that the Government is - AGAIN - involving themselves in our business, but by ourselves we can't do much about it right now. With the Senate and the House of Representatives LOADED with selfish and arrogant "do-absolutely-nothings" we can't expect anything else. But by turning the Congress completely up-side down this November, we might send a message that we are fed up with the Liberal crap that is going on.
I will admit - I started to PANIC when all this stuff hit the fan this past week, but I took a deep breath, and calmed down, and stopped throwing the cat against the wall, dug her claws out of my neck, and started to think quietly.
My advice is for everyone to do the same thing - except throwing the cat around, that is!
DOC HARRIS
This current financial faux pax is about as serious a jolt as has happened to most of you in your lives, and I understand your consternation. Depending on your Financial stability and the particular "nut" that you have to crack in order to keep your head above water, one can attempt to give advice and soothing words to assuage your fears, dismay, and apprehension - but - words are easy to say when we are not walking in YOUR shoes.
I have to agree, at least to a great extent, with Herefordsire (though not completely :???: ), and bandit80 with their interpretation of the "alarm sounds" which went off this week! BUT - bandit80 has made what I think is as good advice as anyone on this Forum and this subject.
Keep calm, let the wheels grind inexorably along as they will, and by so doing, prevent a run on every bank in the country - which would throw a monkey wrench into the entire money system, and then we would really be in big doo-doo!
bandit80 is correct - the FDIC has never failed to do the job it is designed to do, which is to prevent the FEAR and LOSS of bank accounts in such situations such at this. That is exactly what it was designed to do - PROTECT YOUR ASSETS - to a specified amount. And you may have more than one account in the same bank up to $100,000 under your spouse' name and/or your kids names.
Back off, calm down, think quietly and don't make your personal situation worse than it is. We may not agree that the Government is - AGAIN - involving themselves in our business, but by ourselves we can't do much about it right now. With the Senate and the House of Representatives LOADED with selfish and arrogant "do-absolutely-nothings" we can't expect anything else. But by turning the Congress completely up-side down this November, we might send a message that we are fed up with the Liberal crap that is going on.
I will admit - I started to PANIC when all this stuff hit the fan this past week, but I took a deep breath, and calmed down, and stopped throwing the cat against the wall, dug her claws out of my neck, and started to think quietly.
My advice is for everyone to do the same thing - except throwing the cat around, that is!
DOC HARRIS
Doc I agree with you across the board especially the part about not panicking. All that does is put a person in the unenviable position of buying high and selling low(re. the stock market)
HOWEVER I don't think this country has suffered nearly enough in regard to the current congress, I believe they will not only NOT lose their majority but may expand it and gain the ultimate plum the White House in the bargain. Not tossing around gloom and doom just trying to be realistic., and hoping I'm VERY wrong.
A note to Herefordshire. Get a smaller shovel. Right or wrong you shovel more bull in a week than is generated in any feedlot in America. You may be the actual genius you think you are, but you sure give me a headache.
HOWEVER I don't think this country has suffered nearly enough in regard to the current congress, I believe they will not only NOT lose their majority but may expand it and gain the ultimate plum the White House in the bargain. Not tossing around gloom and doom just trying to be realistic., and hoping I'm VERY wrong.
A note to Herefordshire. Get a smaller shovel. Right or wrong you shovel more bull in a week than is generated in any feedlot in America. You may be the actual genius you think you are, but you sure give me a headache.
alexfarms
Well-known member
An interesting article on the bailout plan from Bloomberg.com:
http://www.bloomberg.com/apps/news?pid= ... refer=news
I agree about taking things slow and I have always found that con-artists are always in a hurry. How does an administration go from 'we won't bail out any one else, you have had six months to prepare since BearStearns collapse..' to...this... in less than a week? They are asking for the unreviewable authority to "MAKE NON-US FINANCIAL INSTITUTIONS ELIGIBLE UNDER THE PROGRAM" . It might be an interesting week.
http://www.bloomberg.com/apps/news?pid= ... refer=news
I agree about taking things slow and I have always found that con-artists are always in a hurry. How does an administration go from 'we won't bail out any one else, you have had six months to prepare since BearStearns collapse..' to...this... in less than a week? They are asking for the unreviewable authority to "MAKE NON-US FINANCIAL INSTITUTIONS ELIGIBLE UNDER THE PROGRAM" . It might be an interesting week.
alexfarms
Well-known member
Ran accross some interesting reading on WIKIPEDIA while doing some google searches tonight....too late, I know.
Check out this link and read the last 2 lines under the section: Historians Treatment of the Business Plot
http://en.wikipedia.org/wiki/Business_Plot
Check out the first paragraph in this WIKIPEDIA entry.
http://en.wikipedia.org/wiki/Prescott_Bush
And this WIKIPEDIA entry.
http://en.wikipedia.org/wiki/Union_Banking_Corporation
Small world. I had never heard or read anything about any of this until I ran accross an article somewhere that linked me to the first link. Probably doesn't mean anything, but it certainly does make one think.
Check out this link and read the last 2 lines under the section: Historians Treatment of the Business Plot
http://en.wikipedia.org/wiki/Business_Plot
Check out the first paragraph in this WIKIPEDIA entry.
http://en.wikipedia.org/wiki/Prescott_Bush
And this WIKIPEDIA entry.
http://en.wikipedia.org/wiki/Union_Banking_Corporation
Small world. I had never heard or read anything about any of this until I ran accross an article somewhere that linked me to the first link. Probably doesn't mean anything, but it certainly does make one think.
alexfarms":lat2uxho said:
Ever looked at the history of the Kennedy family. Old Joe makes Bush look like a saint. There's skeletons in the closet of every powerful family in America. So much for keeping POLITICS off the Cattle forums
john250
Well-known member
alexfarms":2xmgtvv8 said:
Interesting link.
I'm no finance man, so I focused on the last line in the story
``We are taking a huge leap of faith.''
john250":2pp781pp said:
Do you believe that this power would follow George Bush to the grave. I don't think so.
This guy gets crucified no matter what he does or does not do. If he was sitting back and letting the economy crash he would be scourged for that. What it appears is going on is that he is trying to take descisive action to keep this country afloat. There is no question we are in trouble, and while I sure as heck don't like the price tag attached to this FIX I can only imagine the price of a much more significent meltdown of the US economy.
It's a bitter pill and there is enough blame to pass around to every elected and appointed official in this country, anyone who believes this is only a Democrat or a Republican problem is an idiot. They are all culpable, and WE are all going to pay for their it.
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